“Today’s record corporate profits mirror what we have been hearing on earnings call after earnings call: Corporations are gleefully reporting that their strategy to burden families with unnecessary price hikes is working.” Economic justice advocates on Wednesday responded to new U.S. government figures showing nonfinancial corporate profits soared to record levels during the third quarter of […]
“It is unacceptable that certain companies and industries are engaged in extreme price hikes under the cover of inflation,” said Rep. Raja Krishnamoorthi. A report released Friday by a panel of the U.S. House Committee on Oversight and Reform highlighted how “certain corporations are using the cover of inflation to raise prices excessively, resulting in record […]
Corporate profits hit a record $2 trillion in the second quarter. Meanwhile, many workers are unable to afford a $400 emergency payment. A new report out Monday shows that 59% of U.S. consumers were living paycheck to paycheck last month and many were unable to afford an emergency expense of $400—all while the country’s corporations enjoy […]
Amazon, which has reported $10.3 billion in recent federal contracts, paid CEO Andy Jassy 6,474 times more than it paid its median worker last year. As ordinary workers across the United States watched inflation eat away at modest wage gains in 2021, many corporations—including firms contracting with the federal government—used record-shattering profits to lavish their CEOs […]